Guardant Health Inc (NASDAQ:GH) Q3 2019 Earnings Conference Call Transcript

Nov 07, 2019 • 04:30 pm ET

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Guardant Health Inc (NASDAQ:GH) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good afternoon ladies and gentlemen and welcome to the Guardant Health Q3 2019 Earnings Conference Call. [Operator Instructions].

I will now turn the conference over to your host Ms. Carrie Mendivil. Please go ahead.

Executive
Carrie Mendivil

Thank you. Earlier today Guardant Health released financial results for the quarter ended September 30 2019. If you have not received the news release or if you'd like to be added to the company's distribution list please send an e-mail to investors@guardanthealth.com. Before we begin I'd like to remind you that management will make statements during this call that are forward-looking statements within the meaning of federal securities laws. These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated. Additional information regarding these risks and uncertainties appears in the section entitled Forward-Looking Statements in the press release Guardant issued today.

For a more complete list and description please see the Risk Factors section of the company's annual report on Form 10-K for the year ended December 31 2018 and in its other filings with the Securities and Exchange Commission. Except as required by law Guardant disclaims any intention or obligation to update or revise any financial projections or forward-looking statements whether because of new information future events or otherwise. This conference call contains time-sensitive information and is accurate only as of the live broadcast November 7 2019. With that I'd like to turn the call over to Helmy Eltoukhy Guardant's Co-Founder and CEO. Helmy?

Executive
Helmy Eltoukhy

Thanks Carrie and thank you everyone for joining us this afternoon. I'm pleased to welcome you to Guardant Health's third quarter 2019 earnings call. Joining me today is AmirAli Talasaz our President and Co-Founder; and Derek Bertocci our Chief Financial Officer. Consistent with our value of putting patients first I will start our call with a patient story. Over a decade ago a 69-year-old physician was diagnosed with stage II prostate cancer. By 2018 his cancer had become metastatic and was progressing despite an androgen deprivation therapy. With a rising PSA score and unpleasant side effects from his therapy he discontinued treatment closed his private practice and began making end-of-life care decisions. Looking for another option his oncologist ordered a Guardant360 test which quickly identified a somatic BRCA2 mutation.

His doctor immediately started him on a PARP inhibitor therapy which has demonstrated promising data in BRCA-mutated prostate cancer. 9 months later this patient is alive stable and back at work once again caring for his patients. We believe this story demonstrates the growing importance of the precision medicine paradigm in oncology not just for lung cancer patients but increasingly for patients across many cancer types. Establishing a new standard of care for patients however is not simple and requires generating evidence of superior clinical utility to support broad reimbursement and clinical adoption for such new approaches. At Guardant Health we are committed to such investment aimed at advancing clinical utility across the continuum of cancer care. In the treatment selection market for example